The big software companies caused
plenty of damage Tuesday, but the little guys were doing their part, too.
all posted first-quarter revenue shortfalls Tuesday afternoon, sending their already addled stocks plummeting further.
The announcements came on the heels of a major slide in the sector following PeopleSoft's own shortfall, disclosed late Monday. Shares of Interwoven escaped the turmoil during normal trading, rising 20 cents, or 3.7%, to close at $5.57, but then fell to $4.94 in after-hours trading following its warning.
CommerceOne fell 10 cents, or 6.3%, to close at $1.48 and then slid 10 cents to $1.38 after hours. Vitria dropped 35 cents, or 9.3%, to close at $3.43 and then fell to $3.05.
In press releases, executives at Vitria and CommerceOne attributed the disappointing results to the economy. CommerceOne Chairman and CEO Mark Hoffman said the company continued to experience long sales cycles, while Vitria CEO JoMei Chang said her company experienced unexpected delays in spending decisions by potential customers.
Interwoven, which makes software to manage Web site content, said first-quarter revenue would range from $32 million to $33 million. Wall Street expected the company to bring in $43 million in revenue, according to Thomson Financial/First Call. Interwoven will report a first-quarter pro forma loss of between 10 cents and 12 cents a share and a loss of 15 cents to 18 cents a share under generally accepted accounting principles. The consensus estimate was a loss of 4 cents a share.
Integration software maker Vitria said first-quarter revenue will range from $22 million to $24 million, compared with the consensus estimate of $35 million. Vitria expects a pro forma net loss of 20 cents to 21 cents a share, and a GAAP loss of 21 cents to 22 cents a share. Analysts pegged first-quarter pro forma earnings at a loss of 6 cents a share.
B2B software maker CommerceOne said total revenue will come in at $29 million to $32 million, including software licenses totaling $8 million. The consensus estimate was $40 million for first-quarter revenue. The company said operating expenses will be slightly better than previous guidance, falling in the range of $88 million to $90 million. The company didn't give an estimate for earnings. Wall Street was expecting the company to post a pro forma loss of 18 cents a share.